Here's a facsimile of the contract drafted by H. Fickes & Son for construction of the Snavely homestead on Broad Avenue extension. The total cost of the job was $634.00 in May 1914. This amount was to be repaid at the rate of "at least $25.00 per month, plus interest" at 6%. In 2005 dollars, the contract price is equivalent a little over $12,500. Keep in mind that in 1914 the average factory worker earned $0.22/hour, or around $2.20 for a standard 10-hour day. In January 1914, Henry Ford became a controversial figure when he agreed to pay his workers $5 for an 8-hour day -- an unheard of rate of compensation. Other industries slowly followed suit, but an 8-hour day did not become standard until 1938.
The house, as described in the contract, was "12 x 12 and 40 x 14," or 704 square feet. Nowadays, a standard 3-bedroom ranch "starter home" usually has between 1250 and 1500 square feet, including at least one bathroom, and more likely 2. How times have changed!
